Endowment investments come with major responsibility and generally need to be managed by a financial expert. And, nonprofit organizations must adhere to certain regulations.
An employee benefit plan audit is a periodic and independent examination of a company’s benefit plans that are subject to ERISA. If your company currently offers or plans to offer an employee benefit plan, read this article to learn about audit requirements.
If your not-for-profit is looking for workers, you might want to consider hiring military veterans. This demographic can have a harder time finding civilian jobs, and tax breaks may be available for employers who hire them.
A Code of Ethics is more than limiting potential fraud losses. It also provides nonprofit organizations with an opportunity to document and disseminate its core values.
Be a nonprofit revenue detective. You don’t have to wait for the next scheduled audit to assess your nonprofit’s financial health. Follow the lead of your professional auditors and focus on analyzing your revenue.
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on deducting website costs. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.
No not-for-profit wants to turn down donations — particularly if they’re large. But, you need to decide is a donation worth bad publicity? Bad publicity, particularly if it hits social media and goes viral, can be far more expensive for your organization in the long run.
Many businesses shut down due to the pandemic and the economy. However, going out of business tax obligations need to be met. First, a business must file a final income tax return and other related forms for the year it closes its doors.
There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Getting the grant you need generally requires you to submit a thorough, professional, and compelling grant proposal.
The 2022 Report to the Nations from the Association of Certified Fraud Examiners reports that not-for-profits are the least likely type of organization to experience occupational fraud. And nonprofit fraud controls can be inexpensive to put into place. For example, a code of conduct, mandatory vacations, fraud training for employees,
How effective are your nonprofit grant proposals? If you aren’t meeting with much success, you may need to change tack. Here’s how to research the grant, support your proposal and avoid pitfalls.
Nonprofit board designated assets refer to funds that haven’t been restricted by donors but are subject to self-imposed limits on their use. They’re typically intended to ensure that funding is available when needed.
The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated tax payments. You want your business to pay the minimum estimated tax payment without triggering the penalty for underpayment of estimated tax.
The IRS recently announced the HSA amounts for 2023, which have been adjusted for inflation. High inflation rates will result in next year’s amounts being increased more than they have been in recent years.
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